| Schedule of operations in different segments |
Information about the Company’s operations in different segments for the three months ended March 31, 2026 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Income Properties | | Management Services | | Commercial Loans and Investments | | Total | Revenues: | | | | | | | | | | | | | Income Properties | | $ | 36,580 | | $ | — | | $ | — | | $ | 36,580 | Management Fee Income | | | — | | | 1,349 | | | — | | | 1,349 | Interest Income From Commercial Loans and Investments | | | — | | | — | | | 3,244 | | | 3,244 | Total Revenues for Reportable Segments | | $ | 36,580 | | $ | 1,349 | | $ | 3,244 | | $ | 41,173 | | | | | | | | | | | | | | Operating Expenses: | | | | | | | | | | | | | Income Properties | | $ | (10,168) | | $ | — | | $ | — | | $ | (10,168) | Total Revenues Less Direct Costs of Revenues | | $ | 26,412 | | $ | 1,349 | | $ | 3,244 | | $ | 31,005 | Provision for Impairment and Adjustment to CECL Reserve | | | — | | | — | | | 321 | | | 321 | Depreciation and Amortization - Real Estate | | | (15,938) | | | — | | | — | | | (15,938) | Total Revenues Less Operating Expenses for Reportable Segments | | $ | 10,474 | | $ | 1,349 | | $ | 3,565 | | $ | 15,388 | Gain on Disposition of Assets | | | — | | | — | | | — | | | — | Net Income From Operations for Reportable Segments | | $ | 10,474 | | $ | 1,349 | | $ | 3,565 | | $ | 15,388 | | | | | | | | | | | | | | Reconciliation to Consolidated Net Income | | | | | | | | | | | | | General and Administrative Expenses | | | | | | | | | | | | (5,077) | Investment and Other Income | | | | | | | | | | | | 3,243 | Interest Expense | | | | | | | | | | | | (7,271) | Depreciation and Amortization - Other | | | | | | | | | | | | (18) | Net Income Before Income Tax Expense | | | | | | | | | | | $ | 6,265 | Income Tax Expense | | | | | | | | | | | | (60) | Net Income Attributable to the Company | | | | | | | | | | | $ | 6,205 |
Information about the Company’s operations in different segments for the three months ended March 31, 2025 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Income Properties | | Management Services | | Commercial Loans and Investments | | Total | Revenues: | | | | | | | | | | | | | Income Properties | | $ | 31,672 | | $ | — | | $ | — | | $ | 31,672 | Management Fee Income | | | — | | | 1,178 | | | — | | | 1,178 | Interest Income From Commercial Loans and Investments | | | — | | | — | | | 2,961 | | | 2,961 | Total Revenues for Reportable Segments | | $ | 31,672 | | $ | 1,178 | | $ | 2,961 | | $ | 35,811 | | | | | | | | | | | | | | Operating Expenses: | | | | | | | | | | | | | Income Properties | | $ | (8,891) | | $ | — | | $ | — | | $ | (8,891) | Total Revenues Less Direct Costs of Revenues | | $ | 22,781 | | $ | 1,178 | | $ | 2,961 | | $ | 26,920 | Provision for Impairment | | | — | | | — | | | — | | | — | Depreciation and Amortization - Real Estate | | | (14,346) | | | — | | | — | | | (14,346) | Total Revenues Less Operating Expenses for Reportable Segments | | $ | 8,435 | | $ | 1,178 | | $ | 2,961 | | $ | 12,574 | Gain on Disposition of Assets | | | — | | | — | | | — | | | — | Net Income From Operations for Reportable Segments | | $ | 8,435 | | $ | 1,178 | | $ | 2,961 | | $ | 12,574 | | | | | | | | | | | | | | Reconciliation to Consolidated Net Income | | | | | | | | | | | | | General and Administrative Expenses | | | | | | | | | | | | (4,683) | Investment and Other Income | | | | | | | | | | | | 575 | Interest Expense | | | | | | | | | | | | (6,136) | Depreciation and Amortization - Other | | | | | | | | | | | | (18) | Net Income Before Income Tax Expense | | | | | | | | | | | $ | 2,312 | Income Tax Expense | | | | | | | | | | | | (51) | Net Income Attributable to the Company | | | | | | | | | | | $ | 2,261 |
Capital expenditures of each segment for the three months ended March 31, 2026 and 2025 are as follows (in thousands): | | | | | | | | | For the Three Months Ended | | | March 31, 2026 | | March 31, 2025 | Capital Expenditures: | | | | | | | Income Properties | | $ | 85,368 | | $ | 80,864 | Commercial Loans and Investments | | | 5,292 | | | 1,431 | Corporate and Other | | | — | | | 12 | Total Capital Expenditures | | $ | 90,660 | | $ | 82,307 |
Identifiable assets of each segment as of March 31, 2026 and December 31, 2025 are as follows (in thousands): | | | | | | | | | As of | | | March 31, 2026 | | December 31, 2025 | Identifiable Assets: | | | | | | | Income Properties | | $ | 1,179,627 | | $ | 1,102,631 | Management Services | | | 1,773 | | | 2,465 | Commercial Loans and Investments | | | 91,248 | | | 118,129 | Corporate and Other | | | 27,019 | | | 40,677 | Total Assets | | $ | 1,299,667 | | $ | 1,263,902 |
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